toxicsugar22

5 years ago

What rate of interstis required so that $1000 will yield $1900 after 5 years if the interset rate is compounded monthly. And I got 12.9%
Now How long will it take a sum of money to triple if it is invested at 10% compounded daily

so remember, what you do to one side of the equation, you must do to the others. since we want t by itself, we can divide by the other terms to isolate it, like so:
\[\frac{\ln(3)}{\ln(1+\frac{.1}{365})} = .1*t\]
then divide by .1 and you will have t by itself.